Just a few short days after Chinese regulators gave the greenlight to petro-yuan futures trading, signaling an escalation in the war against dollar hegemony, President Trump is reportedly set to accuse China of „economic aggression“ in efforts to „undermine international order“ during his national security strategy speech on Monday.
Just a few short days after Chinese regulators gave the greenlight to petro-yuan futures trading, signaling an escalation in the war against dollar hegemony, President Trump is reportedly set to accuse China of „economic aggression“ in efforts to „undermine international order“ during his national security strategy speech on Monday.
The last week has more intriguing than usual in the world of Sino-US relations – not only did China push ahead with its plans for a yuan/gold-backed oil futures contract, directly threatening the great military-servicing global petrodollar recycling scheme; but Washington appeared to do an about-face in its rhetoric towards North Korea, as Secretary of State Tillerson indicated that the US would be willing to hold talks with North Korea without any preconditions.
Both actions could be seen as tilting towards China (obviously with the oil trading and more what China had hoped for on North Korea), appear to have prompted Trump to go on the offensive, as The FT reports, Donald Trump will accuse China of engaging in “economic aggression” when he unveils his national security strategy on Monday, in a strong sign that he has become frustrated at his inability to use his bond with China’s President Xi Jinping to convince Beijing to address his trade concerns.
Several people familiar with the national security strategy – a formal document produced by every US president since Ronald Reagan – said Mr Trump would propose a much tougher stance on China than previous administrations.
